How much will my parish receive as part of this campaign?
As part of the It’s Our Church, It’s Our Future Capital Campaign, 75% of all monies raised above and beyond the 2018 Bishop’s Fund Appeal goal will go directly to the parishes to use towards their parish needs. The other 25% will indirectly benefit every parish by supporting retired clergy, educating seminarians, improving Camp Guggenheim and supporting critical capital repairs at St. Mary’s Cathedral.
How will my parish benefit from this campaign?
- · 75% of the monies raised go directly to the parishes for their own needs. Each parish will determine the projects that will make an immediate impact on parish life.
- · 7% of the monies raised will provide for the care of retired priests.These men have given their lives in the service of our parishes, and it is our duty to ensure that they are properly supported in their retirement.
- · 7% of the monies raised will support education of seminarians. As we look to the future, every parish will benefit from the education and formation of new priests who will serve as parish leaders in the future.
- · 4% of the monies will enable vital improvements to Camp Guggenheim. Camp Guggenheim provides facilities where young people and families all across the Diocese are given the opportunity for spiritual growth and development in a peaceful and serene setting on lower Saranac Lake. The formation of these future parish leaders will benefit our parishes for generations to come.
- · 7% of the monies will enable crucial capital repairs to St. Mary’s Cathedral, our Mother Church. Each year, the Cathedral welcomes thousands of visitors from all parts of the Diocese for special Masses, ordinations, confirmations, weddings and other important celebrations. It is important that we help maintain such a beautiful sacred space.
Will any of these funds be used for items other than the established case elements?
No, the Diocese is obligated to apply these funds for the stated elements of the case. The funds raised for the campaign will be used exclusively for the purposes set forth in the case statements.
How will parishes receive their money?
Contributions will be posted to a designated parish Capital Campaign depository account in the Diocese’s Deposit & Loan Fund upon receipt. Distributions from the accounts will be made quarterly beginning January 2019 so the parish may make its commitment to the 2018 Bishop’s Fund Appeal and contribute to their 25% indirect parish share.
Is there a certain priority for case element funding?
Monies will first be distributed from the parish Capital Campaign accounts to the Diocese for the parish share of the 2018 Bishop’s Fund Appeal. Subsequently, distributions from the account to the Diocese will be made where the monies will immediately be split between the direct parish share and indirect parish share. Parishes will determine how the direct parish share will be split between the parish case elements. In terms of the indirect parish share, all monies will be split proportionately amongst all indirect parish case elements until each is fully funded.
How were the parish goals determined?
Parish goal calculations are based on 100% of the previous fiscal three-year parish offertory average (2013-14, 2014-15, 2015-16) plus their 2018 Bishop’s Fund Appeal goal.
Is our parish goal an assessment?
No, the established parish goals are not an assessment. All parishes are asked to conduct a “Good Faith Effort” and work with their assigned Campaign Director and Campaign Counsel to achieve their goal. If, after conducting a “Good Faith Effort” the parish does not meet its goal, the parish will not be assessed the balance.
How much should I give to the campaign?
Parishioners are asked to prayerfully consider a specific gift plan in accordance with their own means, circumstances and sacrificial levels. Pledges are payable in monthly, quarterly, semi-annual or annual installments over a 4-year period.
Why are pledges encouraged instead of one-time donations?
Pledges provide parishioners with the opportunity to make a more significant gift to the mission of the Church. In addition, pledges allow the Diocese of Ogdensburg and your local parish to better budget and plan for meeting the needs that will be addressed as a result of this campaign.
Are pledges legally binding?
Pledges are not legally binding. If the donor’s financial situation changes such that a pledge cannot be satisfied, simply communicate with the Development Office at (315) 393-2920 and inform them so they will not send further communications regarding the pledge. Conversely, additional pledges or increased pledges can be made throughout the redemption period also.
How will the campaign affect our parish offertory?
Traditionally, offertory giving should remain consistent. Parish leadership and the professionals assisting with the Campaign will communicate to parishioners that contributions to the Capital Campaign constitute a sacrifice and commitment above and beyond their regular offertory giving. Parishioners will be encouraged to continue their present level of support for their parish and should not lower their parish offertory giving to make a gift to the Capital campaign.
Can I make a gift of stock to the campaign?
Donors may use stock or mutual funds to pay their pledge or make a one-time gift. Gifts of securities shall be administered under the Diocesan procedure that sees the securities sold immediately upon receipt by the Diocese. Donors who have owned the stock for more than a year prior to making their gift to the Diocese do not have to pay capital gains tax on the stock and are allowed a tax deduction. For more information on making a gift via stock, please contact Scott Lalone at (315) 393-2920.
Are IRA rollover gifts an option for giving to this campaign?
If you are 70½ or older, the IRA rollover is a great way for you to make a gift to support the It’s Our Church, It’s Our Future Capital Campaign. For more information on making an IRA Rollover gift to the campaign, contact Scott Lalone at (315) 393-2920. IRA rollover gift key provisions are:
- The IRA rollover gift allows donors 70½ or older to transfer up to $100,000 directly from their IRA on an annual basis.
- An IRA rollover gift is a tax-exempt distribution. Qualifying individuals can make charitable gifts using pre-tax IRA assets rather than taking a distribution, paying income taxes and using after tax assets to make a charitable gift.
- An IRA rollover gift can be used to meet all or part of an IRA’s annual required minimum distribution.
Who handles the redemption of the pledges?
The Diocese of Ogdensburg will be responsible for the redemption of pledges. The Development Office will track all pledges and handle the mailing of payment reminders over the 4-year pledge period.